MeiraGTx Holdings plc [MGTX] Revenue clocked in at $17.20 million, down -31.97% YTD: What’s Next?

MeiraGTx Holdings plc [NASDAQ: MGTX] price surged by 3.81 percent to reach at $0.5. The company report on August 6, 2020 that MeiraGTx Reports Second Quarter 2020 Financial Results.

– Positive initial data from Phase 1/2 clinical trial of AAV-RPGR for the treatment of XLRP recently presented- AAV-RPGR to advance into Phase 3 Lumeos clinical trial- Expands manufacturing capabilities with new facilities in Ireland.

MeiraGTx Holdings plc (Nasdaq: MGTX), a vertically integrated, clinical stage gene therapy company, today announced financial results for the second quarter ended June 30, 2020 and provided an update on recent clinical development and business progress, including the Company’s new cGMP viral vector manufacturing and plasmid production facilities in Shannon, Ireland.

A sum of 1201203 shares traded at recent session while its average daily volume was at 107.05K shares. MeiraGTx Holdings plc shares reached a high of $14.7699 and dropped to a low of $13.26 until finishing in the latest session at $13.62.

The average equity rating for MGTX stock is currently 2.00, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on MeiraGTx Holdings plc [MGTX]:

BofA Securities have made an estimate for MeiraGTx Holdings plc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on September 15, 2020. While these analysts kept the previous recommendation, Piper Jaffray raised their target price to Overweight. The new note on the price target was released on September 03, 2019, representing the official price target for MeiraGTx Holdings plc stock. Previously, the target price had yet another raise from $30 to $40, while Chardan Capital Markets kept a Buy rating on MGTX stock.

The Average True Range (ATR) for MeiraGTx Holdings plc is set at 0.76, with the Price to Sales ratio for MGTX stock in the period of the last 12 months amounting to 30.11. The Price to Book ratio for the last quarter was 2.92, with the Price to Cash per share for the same quarter was set at 5.12.

MGTX Stock Performance Analysis:

MeiraGTx Holdings plc [MGTX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.57. With this latest performance, MGTX shares dropped by -4.89% in over the last four-week period, additionally plugging by 44.28% over the last 6 months – not to mention a drop of -26.62% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for MGTX stock in for the last two-week period is set at 52.22, with the RSI for the last a single of trading hit 59.35, and the three-weeks RSI is set at 52.60 for MeiraGTx Holdings plc [MGTX]. The present Moving Average for the last 50 days of trading for this stock 13.32, while it was recorded at 13.23 for the last single week of trading, and 15.38 for the last 200 days.

Insight into MeiraGTx Holdings plc Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and MeiraGTx Holdings plc [MGTX] shares currently have an operating margin of -438.37. MeiraGTx Holdings plc’s Net Margin is presently recorded at -411.87.

Return on Total Capital for MGTX is now -39.49, given the latest momentum, and Return on Invested Capital for the company is -37.32. Return on Equity for this stock declined to -40.28, with Return on Assets sitting at -26.02. When it comes to the capital structure of this company, MeiraGTx Holdings plc [MGTX] has a Total Debt to Total Equity ratio set at 12.15. Additionally, MGTX Total Debt to Total Capital is recorded at 10.83, with Total Debt to Total Assets ending up at 7.16. Long-Term Debt to Equity for the company is recorded at 11.27, with the Long-Term Debt to Total Capital now at 10.05.

Reflecting on the efficiency of the workforce at the company, MeiraGTx Holdings plc [MGTX] managed to generate an average of -$348,702 per employee. Receivables Turnover for the company is 0.72 with a Total Asset Turnover recorded at a value of 0.06.MeiraGTx Holdings plc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 5.00 and a Current Ratio set at 5.00.

MGTX Stock EPS

With the latest financial reports released by the company, MeiraGTx Holdings plc posted -0.3/share EPS, while the average EPS was predicted by analysts to be reported at -0.52/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 42.30%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for MGTX. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for MeiraGTx Holdings plc go to 2.40%.

MeiraGTx Holdings plc [MGTX] Insider Position Details

There are presently around $285 million, or 57.80% of MGTX stock, in the hands of institutional investors. The top three institutional holders of MGTX stocks are: PERCEPTIVE ADVISORS LLC with ownership of 6,433,277, which is approximately 0% of the company’s market cap and around 7.90% of the total institutional ownership; ORBIMED ADVISORS LLC, holding 3,713,820 shares of the stock with an approximate value of $50.58 million in MGTX stocks shares; and JOHNSON & JOHNSON INNOVATION – JJDC, INC., currently with $39.48 million in MGTX stock with ownership of nearly 0% of the company’s market capitalization.

Positions in MeiraGTx Holdings plc stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 49 institutional holders increased their position in MeiraGTx Holdings plc [NASDAQ:MGTX] by around 1,616,401 shares. Additionally, 32 investors decreased positions by around 591,216 shares, while 12 investors held positions by with 18,697,181 shares. The mentioned changes placed institutional holdings at 20,904,798 shares, according to the latest SEC report filing. MGTX stock had 12 new institutional investments in for a total of 75,382 shares, while 10 institutional investors sold positions of 216,187 shares during the same period.

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